Broker Diane lists a home in Topeka for seller Tom. Buyer Ben contacts Diane directly and wants to make an offer on Tom's home. Diane has not signed a buyer agency agreement with Ben. Under Kansas BRRETA, which of the following best describes Diane's relationship with Ben?
Correct Answer
C) Diane is a transaction broker with respect to Ben in the absence of a written buyer agency agreement
Under BRRETA, when Diane has a listing agreement with Tom (seller's agent) but no written buyer agency agreement with Ben, Diane's relationship with Ben defaults to transaction broker. BRRETA allows a licensee to act as a seller's agent to one party and a transaction broker to the other, provided proper disclosure is made.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
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